A simple federal income tax return is one with almost no options. Prior to the 2018 tax year, the Internal Revenue Service offered two streamlined versions of its 1040 individual income tax return. The simplest was Form 1040-EZ, for taxpayers with very basic tax situations and usually the quickest refunds.
How do I know if I have a simple tax return?
In general, you have a simple tax return if you:
- File Form 1040 or Form 1040-SR with no schedules.
- Form 1040 or Form 1040-SR + unemployment income only with no schedules.
- Have W-2 income.
- Limited interest and dividend income reported on a 1099-INT or 1099-DIV.
- Claim the standard deduction.
Who needs to file a simple tax return?
The very basic and general answer is this: as a filing single or married filing separate person, if your 2020 income did not not equal or exceed the standard deduction limit of $12,400 and you do not owe any special taxes or have any special tax situations that require you to file, you do not need to file.
